JKB Financial Services Ltd.

As on : 10-Oct-2024

Market Commentary - Foreign Markets
10-Oct-2024 16:09

Japanese stocks end up slightly higher

Japanese markets edged up slightly ahead of the September U.S. CPI data due later in the day. The Nikkei average rose 0.26 percent to 39,380.89 while the broader Topix index closed 0.20 percent higher at 2,712.67.

Camera maker Nikon jumped 5.6 percent to become the Nikkei's top percentage gainer.

Technology investor SoftBank Group surged nearly 4 percent while Uniqlo brand owner Fast Retailing gained 1.3 percent after posting strong sales and profit growth.

Retailer Aeon slumped 8.7 percent after reporting a decline in its financial performance for the six-month period ending August 31, 2024.

Producer prices in Japan were unchanged in September, the Bank of Japan said on Thursday. On a yearly basis, producer prices rose 2.8 percent.

Export prices fell 0.4 percent on month and rose 0.5 percent on year, the bank said, while import prices slumped 1.3 percent on month and 0.4 percent on year.

The value of overall bank lending in Japan was up 2.7 percent on year in September, the Bank of Japan said on Thursday - coming in at 624.24 trillion yen. For the third quarter of 2024, overall lending was up 3.0 percent on year, lending excluding trusts rose 3.3 percent and lending from trusts was up 0.6 percent.

GET IN TOUCH